Ringgit eases against US dollar

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RINGGIT

KUALA LUMPUR: The ringgit traded marginally lower against the US dollar in the late session yesterday, as investors took short position ahead of the National Day celebrations today, dealers said.

The ringgit was quoted at 3.1245/1285 per US dollar compared with 3.1215/1245 on Wednesday.

Another dealer said other emerging currencies led by the rupiah showed a downtrend yesterday in the absence of fresh catalyst for the global market.

The ringgit was traded mixed against other regional currencies.

It declined against the Singapore dollar to 2.4934/4964 from 2.4902/4930 previously but was marginally higher against the yen at 3.9703/9761 versus Wednesday’s closing of 3.9754/9797.

INTERBANK RATES

KUALA LUMPUR: Short-term rates ended on steady note yesterday with Bank Negara Malaysia intervening to absorb excess funds from the financial system, dealers said.

The liquidity surplus in conventional operations was reduced to RM17.64 billion from RM35.97 billion estimated in the morning. In the Islamic system, the surplus was reduced to RM6.07 billion from RM7.53 billion estimated earlier.

The central bank conducted one range maturity auction, one repo and three Al-Wadiah tenders. It also issued a late conventional tender for RM17.6 billion and a RM2.6 billion Al-Wadiah tender, both for four-day money.

The overnight rate stood at 2.93 per cent while the one-, two- and three-week rates were pegged at 2.98, 3.01 and 3.04 per cent, respectively.

The market will be closed tomorrow (today) for Merdeka Day celebrations.

KLIBOR

KUALA LUMPUR: The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract on Bursa Malaysia Derivatives was untraded yesterday, dealers said.

Spot month September 2012 and December 2012 remained pegged at 96.80 and 96.81, respectively. The underlying three-month KLIBOR stayed unchanged at 3.20 per cent as at 11.30 am fixing. – Bernama

Business Times : marketwatch

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